[159 Pages Report] The marine collagen market was valued at USD 581.3 Million in 2017. It is projected to reach USD 897.5 Million by 2023, growing at a CAGR of 7.7% from 2018. Marine collagen is majorly used as an ingredient in nutraceuticals, cosmetics, and pharmaceutical industries. The increasing demand for personal care products and health supplements drives the market for marine collagen. Market players are responding to new opportunities by expanding their global presence and product offerings.

To define, segment, and forecast the size of the marine collagen market with respect to type, source, animal, application, and region

To analyze the market structure by identifying various subsegments of the marine collagen market

To forecast the size of the marine collagen market and its various submarkets with respect to four main regions, namely, North America, Asia Pacific, Europe, and the Rest of the World (RoW)

To provide detailed information about the crucial factors that are influencing the growth of the market (drivers, restraints, opportunities, and challenges)

To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

To strategically profile the key players and comprehensively analyze their market ranking and core competencies

To analyze the competitive developments such as expansions & investments, acquisitions, and partnerships in the marine collagen market

The years considered for the study are as follows:

Base Year: 2017

Estimated Year: 2018

Projected Year: 2023

Forecast Period: 2018 to 2023

This report includes estimations of the market size in terms of value (USD million). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the marine collagen market and to estimate the size of various other dependent submarkets in the overall market. The key players in the market have been identified through secondary research through various sources such as the US Department of Agriculture (USDA), the Food and Agricultural Organization (FAO), the European Food Safety Authority (EFSA), EUROPA, Institute of Food Technologist, and their market ranking in the respective regions have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources.

The global market for marine collagen has grown exponentially in the last few years. The market is estimated to be valued at USD 620.3 Million in 2018 and is projected to reach USD 897.5 Million by 2023, growing at a CAGR of 7.7%. Emerging economies such as India, China, and Brazil are the potential primary markets. Factors such as the growing inclination toward healthy lifestyles among consumers and high protein consumption have significantly fueled the demand for marine collagen due to its various health benefits such as regeneration of skin & bones and better bioavailability as compared to other collagen types. The marine collagen market is witnessing growth owing to the growth in demand for beauty products, increase in the number of R&D activities, innovations in the medical field, technological advancements, and by-product utilization and processing due to the growth of the fish processing industry.

The marine collagen market, based on type, is segmented into type I, type III, and others. The type I segment is estimated to dominate the market with the largest share in 2018 since type I is the most abundant collagen in the human body and plays a significant role in the extracellular matrix of skin, bones, and tissues. This is followed by the type III segment.

The marine collagen market, based on source, is segmented into skin, scales, and muscles, bones & tendons, and others. The skin, scales, and muscles segment is projected to grow at the highest CAGR among all marine collagen sources from 2018 to 2023. The skin and scales of various fresh and saltwater fishes are the most suitable source of collagen as they contain abundant protein, most of which is type I marine collagen. Due to these factors, the market is projected to grow at a significant rate in the future.

Based on animal, the marine collagen market is segmented into fish and others. Fish is estimated to be a larger segment. It is one of the widely used marine animals for the extraction of marine collagen. Apart from fish, many other marine animals such as jellyfish and sponges are also used for the extraction of marine collagen.

The marine collagen market, based on application, is segmented into nutraceuticals, cosmetics, medical, and others. The nutraceuticals segment is projected to grow at the highest CAGR among all marine collagen applications from 2018 to 2023. Marine collagen is often taken as a direct dietary supplement due to its high protein content and its overall benefits such as bone growth promotion and anti-aging properties.

The Asia Pacific region is estimated to dominate the marine collagen market in 2018 and is further projected to grow at the highest CAGR during the forecast period. This is developing more rapidly in the Asia Pacific due to the demand for personal care & beauty products and health supplements. Food safety authorities have approved the use of marine collagen in pharmaceutical and food products due to its high protein content and various health benefits. However, the high processing cost of marine collagen might hamper the growth of the global market during the review period.